Are you trying to (1) defer taxes or (2) find an income producing asset?

Lower yield assets might not be your cup of tea, but the yield of the asset has nothing to do with the strategy. 

Protect your personal assets.

SLO airport also.What type of asset class are you looking at and how much scale?

Yes, Self Storage is indeed a hot asset class and there is a lot of eyes on it, but as @Scott Krone says above - your market is really only 5 miles around the subject property so there's plenty of 5 mile markets scattered (aka "under served") throughout KS & MO.And in all things, remember: You are NOT a lotto ticket. 

however it is rare you get a fire after all the homes we have had I think we have had maybe 3.. when I had my big rental portfolio I was just about to go to self insurance.. at 200 to 300 homes in the low value asset areas self insurance for fire becomes very cost effective when its private equity and no bank.  

A self-directed IRA is not a means for you to get your hands on the IRA money for your own purposes - though I have been to some guru seminars that want to make it sound that way (while hiding behind "I'm not a tax attorney" disclosures).What a self-directed IRA can do is allow you to take self-directed retirement savings and invest in alternative assets, potentially in a situation where you have much more control and knowledge than with just sending money off to Wall St. 

Given this structure and since LPs would've been paid their equity contribution by Level 2 & Level 3, how much ownership interest should the operating agreement allocate to GP & LP with regards to company ownership, voting rights, and obviously the sale of the asset?

Looking at beginning to search for assets to buy.

They are now being used for enhanced photography, virtual tours, and even property management.Big DataAs the world becomes a planet of digital natives, more and more data is becoming available to the public.